David, an employee of Cecil, Inc, has gross salary for March of $5,900

The entire amount is under the OASDI limit of $117,000, and thus subject to FICA. He is also subject to federal income tax at a rate of 30%. His year-to-date pay has already exceeded the $7,000 cap for FUTA and SUTA. The journal entry to record the employer's payroll tax expense includes a credit to FICA-OASDI Taxes Payable for $365.80. (Assume a FICA-OASDI Tax of 6.2% and FICA-Medicare Tax of 1.45%.)
Indicate whether the statement is true or false

TRUE .FICA—OASDI Taxes Payable = $5,900 x 6.2% = $365.80